Reading Football Club has confirmed that a takeover deal which will see Rob Couhig purchase the club from Dai Yongge has been ‘agreed in principle’.
The EFL has now also extended the deadline for Dai Yongge to divest his shares in the club until May 8 while legal proceedings are finalised.
A statement from the club reads: “Reading Football Club is pleased to announce the sale in principle of the club to Redwood Holdings Limited.
“The takeover includes the Select Car Leasing Stadium and Bearwood Park Training Ground.
“The formal completion of the transaction is subject to final legal technicalities but is fully expected to be completed shortly.
“Based on the agreement between the parties, the EFL has agreed to extend its deadline for the divestment of Mr Dai Yongge’s shareholding until its next Board Meeting on 8 May.
“Redwood Holdings Ltd is a subsidiary of Dogwood Football LLC, which is owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana.”
